USD/JPY: Consolidating monthly gains
USD/JPY is neutral-to-bullish, consolidating monthly gains. Valeria Bednarik, a Chief Analyst at FXStreet, takes a look at the technical picture of the USD/JPY pair.
“In the 4-hour chart, the 20 SMA has lost part of its bullish strength but continues to provide intraday support to the pair.”
“The pair has met sellers several times these days in the 111.60 price zone. A clear break above it should lead to a retest of the yearly high at 112.22.”
“Support levels: 111.00 110.70 Resistance levels: 111.65 111.90”